USDJPY marked the first weekly loss in three as the key Bank of Japan (BoJ) Monetary Policy Meeting and the US Nonfarm Payrolls (NFP) looms. The Yen pair’s latest retreat could be cited as a failure to cross the 200 and 100-DMA. Adding strength to the pullback move could be the overbought RSI (14). However, the bullish MACD signals and a three-day-old ascending...
TATAMOTORS has broken out of descending triangle. The stock has also completed its retracement move toward the triangle support zone and is slowly inching upward.
It is a low risk place to go long for 461/494 as targets. SL below 413 retracement zone.
Half Bullish bat pattern formed in the previous swing. The demand zone is around 0.618 retracement zone (golden ratio)—prospective targets 0.5 and 0.618 retracement zones. Also, there is a trendline it is respecting as a resistance.
Hello All,
I'm Back from long Gap
Sharing my View for tomorrow and setup
1) Gap Up opening above - yellow upper line - Wait for retracement and if it took support at yellow line then execute at trade for long side, SL - will be below yellow line
2) Gap Down Below - Red bottom Line (which was strong support zone for today )- Wait for retracement and if resist...
Potential Bullish butterfly yet to complete.
PRZ marked with the completion of the above-mentioned pattern. Also, potential targets on the CD retracement are marked with fib retracement plot.
Security is in a bearish trend as 20 EMA is trailing below 50 & 100 EMA on daily TF.
Potential Bullish butterfly yet to complete.
PRZ marked with the completion of the above-mentioned pattern.
Also, potential targets on the CD retracement are marked with fib retracement plot.
Nifty Index generally tries to correct by trending and then consolidating for a while and then resuming its bearish momentum.
One can see that in Dec and Jan, Nifty corrected from 18700 to 17800 and then formed a consolidation zone between 17800 to 18200. This was the Fib retracement area betweeen 38.2% to 50% levels.
In the last few days Nifty has corrected...
BTC price has been moving in the consolidation zone for 8 days.
If we consider the swing from 31st Dec 2022 - 2nd Feb 2023, the price has followed Fibonacci Retracement with the price bouncing back after reaching the 0.618 retracement level. Any upswing can push the price to the 30k level.
Note:
Note: Studies are for educational purposes only.
We will not be...
AUDUSD braces for the first monthly loss in four despite Friday’s rebound from the 61.8% Fibonacci retracement of its December 2022 to early February highs. A clear downside break of the two-month-old ascending trend line joins a two-week-old descending trend line to favor sellers. Adding strength to the bearish bias are the downbeat oscillators. The corrective...
1. 406 days rounding bottom
2. 291 depth of cup
3. 6 weeks handle with 15 % retracement
4. volume build up during upmove to resistance beyond that they dried up in retracement
trade
positions can be build in stages
1. break and close above 603
2. if and when volatility squeezes
3. view negates below handle
target
ATH
GBPUSD pares the early-week recovery from 78.6% Fibonacci retracement of January 06-23 upside while taking a U-turn from the 200-SMA hurdle. The pullback also take justifies the downbeat RSI and MACD conditions, suggesting further declines towards 61.8% and 78.6% Fibonacci retracement levels, around 1.2070 and 1.1970 in that order. It’s worth noting, however, that...
See always know on thing, Nifty always moves following price action and that price action is made by people thinking not uniquely but all of them feeling that at this particular point pattern could reverse or break down further. So the idea is not to keep on finding the price where it will reverse but finding where the buyers are present and one best way to find...
BTC started it's upside from red wave C 1.236 projection level then started impulse movement although wave 1 was a leading diagonal triangle that's why I got the confirmation for wave 3 targets after wave 1st internal 5th crossed by straight move including multiple green candles rather than one or two big green candles. As we can see wave 3 extended to 2nd target...
Nifty Weekly chart looks bearish as it shows Nifty consolidating for few weeks and then breaking below the consolidation zone and currently trying to retest it again (bearish retest would have been much clearer if it finished below 17800 but it closed above it). But this could be a move to trap call buyers.
On the daily TF, it looks bullish as it took support...
Hello Traders!
1. We can see an ending diagonal forming on the Nifty50 chart on the 1hr tf .
2. The retracement levels have been mentioned which gives us more evidence of the market following the wave pattern.
3. We see a strong trend resistance of the market. Once the resistance is cleared, we can look forwards to buying calls or selling puts, whatever...
There were 4 support & resistance zones in play today, 3 supports broken & 1 held. No pull back rally - just a consolation flat type trading last 3hrs today.
Lets analyze it one by one. The accusations against Adani group companies by Hindenburg research caught the lime light today, markets reacting more seriously than on 25th Jan.
Many of the Adani group...
NIfty in the previous week formed another doji candle with further range compression. This follows continued inside candles that it has been forming for last 3-4 weeks indicating a lot of indecision in the market. It encountered resistance from the upper trendline and is now resting on 38.2% retracement of the current rally.
The Option chain indicates huge call...
Despite the AUDUSD pair’s south-run on the downbeat Aussie jobs report, the pair trades successfully inside a 3.5-month-long upward-sloping trend channel. That said, the overbought RSI highlights beyond an ascending trend line hurdle stretched from mid-November and the 61.8% Fibonacci retracement level, respectively near 0.7015 and 0.7090 as near-term key hurdles....
